November Market Update
Still a bit of a holding pattern in what supply and demand would still deem a “Normal Market”.
Normal is an inventory level of 4 to 6 months. We are right on the cusp of moving to a “Slow Market” where the advantage shifts over to the buyers in the market.
| January 2024 | November 2024 | |
| Active Inventory All | 870 | 1187 |
| Active Inventory Homes | 424 | 595 |
| Under Contract | 24% | 19.50% |
| Absorption Rate | 5.4 | 6.7 |
| SF Absorption Rate | 4.3 | 5.3 |
| Price Reductions/Month | 171 | 271 |
If you would like a more specific analysis for your real estate goals, give me a call!
